Bipartisan consensus

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DAILY ENERGY NEWS | 05/31/2023

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This is not a red-blue issue, but an everyone issue.

Fox News (5/26/23) reports: "A county in New Jersey voted unanimously to oppose an offshore wind farm proposed for its coastline, citing the project's negative impacts on the environment, tourism industry and beach vistas. In a 4-0 vote this week, the Cape May County, New Jersey, Board of Commissioners passed a resolution green-lighting reasonable use of all the county's resources to oppose the wind projects developed by Danish multinational energy company Orsted. The county is also considering legal options and appealed a state public utility permit it says would transfer "real property interests" from residents to Orsted. ''At first, the County of Cape May was interested in trying to work with Orsted to find a way forward, perhaps with some modifications to the project to reduce visual, environmental and economic impacts,' Cape May County Board of Commissioners Director Len Desiderio said in a statement. 'We would like to see land-based offshore wind facilities and supply chain infrastructure built here in New Jersey, since that would create good opportunities for trade workers and others,' Desiderio continued. 'But we cannot sit quietly by as hundreds of windmills are installed off our beaches as state and federal government agencies ignore our legitimate and serious concerns.'"

"Forcing power plants to shut down will further endanger grid reliability; regulators and industry insiders say that it's already pretty rickety. That situation is unlikely to improve until politicians stop putting what they want ahead of what's feasible."

– J.D. Tuccille, Reason Magazine

Hey brother, can you spare $38 trillion?

Bloomberg (5/30/23) reports: "China, the world’s biggest greenhouse gas emitter, can beat its existing climate targets and hit net zero by 2050 if the nation lifts investment in decarbonization to about $38 trillion. That would allow the world’s No. 2 economy to accelerate the transition of its power sector, the largest source of carbon emissions, BloombergNEF said Tuesday in its New Energy Outlook: China report. Measures include adding more energy storage, nuclear generation and carbon capture technology while extending its world-leading deployment of solar and wind. To be on track to zero out emissions by mid-century, China will need to roughly triple its energy transition investment to an annual average of almost $1.7 trillion in the later years of this decade. China spent $550 billion in 2022 and accounted for about half the global total, according to BNEF."

This is the point of the anti-human agenda. Modern life, but only for the elites.

“My electric bill has more than doubled since the COVID-19 pandemic.”

Detrorit Free Press (5/28/23) letter: "Everyday I read The Free Press I am irritated by the idea of all the money time and effort put forth by our governments and auto manufacturers in the development of electric vehicles. I don't want one. It will change the way Americans move from place to place, and it appears it will be far more expensive than gas combustion engines. My electric bill has more than doubled since the COVID-19 pandemic. What will it be when millions of people are plugged in? Try driving great distances for vacation, as many in Michigan do. Add on two to three days for your Florida trip, not the 18to 20 hours it takes to get there now. I smell a rat between manufacturers and our politicians."

Energy Markets

WTI Crude Oil: ↓ $68.94
Natural Gas: ↑ $2.36
Gasoline: ↓ $3.57

Diesel: ↑ $3.95
Heating Oil: ↓ $227.62
Brent Crude Oil: ↓ $72.87
US Rig Count: ↓ 742

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